Significant 782 Million Dollars Transfer Originates from Ripple's Biggest Player: Is XRP's Value Likely to Change?
Cryptocurrency enthusiasts have been in a tizzy lately, especially with the latest activity surrounding Ripple's native token, XRP. A colossal transfer worth $782 million - supposedly from a wallet linked to Ripple - has set the crypto world abuzz.
Riding this surge, XRP has seen a gob-smacking 11% increase over the last week, reaching an impressive $2.41. But the real eye-opener is the said transfer that took place immediately following U.S. Federal Reserve Chair Jerome Powell's interest rate announcement.
Whales Howling for More XRP
According to Santiment, whales have snapped up approximately 880 million XRP, worth a whopping $2.13 billion, over the past month. Such massive acquisitions suggest that these titans of the crypto world are bullish about XRP's future trajectory.
Ripple Pulls the Legal Trigger
Remember the long-drawn Ripple vs. SEC lawsuit? Well, it was finally settled in March 2025. Ripple had to cough up a $50 million fine and return the remaining $75 million. Since then, corporate interest in the XRP Ledger has been blooming – in January, Ondo Finance launched the OUSG product on the XRP Ledger using Ripple's stable coin, RLUSD.
Reading the RSI: Support and Resistance
Last Saturday, XRP reached its highest since March, touching $2.47. But Sunday's sell-offs forced it to retreat slightly. As of Tuesday morning, the price is recovering, with the Relative Strength Index (RSI) at a promising 62. The $2.50 level serves as a significant resistance. To break past this, potential targets include $2.94 and the psychological level of $3.00. If things go downhill, initial support appears at $2.30, followed by the 30-day moving average at $2.20.
Is the New Peak Within Reach?
Investors have their sights set on breaking the previous peak of $3.84 – a jump of 58% from the current price. Several factors could bring this to fruition, such as Ripple's growing network and the possible approval of a spot XRP ETF, which could fuel further price increases.
As the crypto world continues to evolve, keeping a close eye on developments within Ripple's XRP ecosystem becomes crucial. Will the bearish concerns be brushed aside, or will they prove to be a formidable obstacle to XRP's journey to new highs? Only time will tell.
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- The recent surge in XRP's value, following a large transfer worth $782 million and the settlement of Ripple's long-standing lawsuit with the SEC, has sparked a frenzy among technology-driven finance investors, with whales snapping up over 880 million XRP over the past month, indicating a bullish outlook for the digital asset.
- As XRP enthusiasts eye the breakthrough of the previous peak of $3.84, they find encouragement in potential factors such as Ripple's expanding network and the possible approval of a spot XRP ETF, all of which could propel the web3-based cryptocurrency to soar, leveraging the latest advancements in technology for investing in the finance sector.
